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Side-by-side financial comparison of Madison Square Garden Sports Corp. (MSGS) and STAG Industrial, Inc. (STAG). Click either name above to swap in a different company.
Madison Square Garden Sports Corp. is the larger business by last-quarter revenue ($403.4M vs $224.2M, roughly 1.8× STAG Industrial, Inc.). STAG Industrial, Inc. runs the higher net margin — 27.6% vs 2.0%, a 25.6% gap on every dollar of revenue. On growth, Madison Square Garden Sports Corp. posted the faster year-over-year revenue change (12.8% vs 9.1%). Over the past eight quarters, STAG Industrial, Inc.'s revenue compounded faster (8.7% CAGR vs -3.1%).
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
Stag Arms is a firearms manufacturer founded in May 2003 and located in Cheyenne, Wyoming. Stag Arms is a manufacturer of the AR-15 type rifle, marketed as Stag-15 rifles. Stag advertises that all their weapons and accessories are made in the United States. They are best known for their left-handed AR-15 rifles, which use a mirror imaged upper receiver and have the ejection port reversed for left-handed shooters and the safety selector control on the right side of the lower receiver.
MSGS vs STAG — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $403.4M | $224.2M |
| Net Profit | $8.2M | $62.0M |
| Gross Margin | — | — |
| Operating Margin | 5.5% | — |
| Net Margin | 2.0% | 27.6% |
| Revenue YoY | 12.8% | 9.1% |
| Net Profit YoY | 641.9% | — |
| EPS (diluted) | $0.34 | $0.32 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $224.2M | ||
| Q4 25 | $403.4M | $220.9M | ||
| Q3 25 | $39.5M | $211.1M | ||
| Q2 25 | $204.0M | $207.6M | ||
| Q1 25 | $424.2M | $205.6M | ||
| Q4 24 | $357.8M | $199.3M | ||
| Q3 24 | $53.3M | $190.7M | ||
| Q2 24 | $227.3M | $189.8M |
| Q1 26 | — | $62.0M | ||
| Q4 25 | $8.2M | $83.5M | ||
| Q3 25 | $-8.8M | $48.6M | ||
| Q2 25 | $-1.8M | $50.0M | ||
| Q1 25 | $-14.2M | $91.4M | ||
| Q4 24 | $1.1M | $51.0M | ||
| Q3 24 | $-7.5M | $41.9M | ||
| Q2 24 | $25.5M | $59.8M |
| Q1 26 | — | — | ||
| Q4 25 | 5.5% | — | ||
| Q3 25 | -69.5% | — | ||
| Q2 25 | -11.1% | — | ||
| Q1 25 | 7.6% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | -15.5% | — | ||
| Q2 24 | 23.0% | — |
| Q1 26 | — | 27.6% | ||
| Q4 25 | 2.0% | 37.8% | ||
| Q3 25 | -22.3% | 23.0% | ||
| Q2 25 | -0.9% | 24.1% | ||
| Q1 25 | -3.4% | 44.5% | ||
| Q4 24 | 0.3% | 25.6% | ||
| Q3 24 | -14.1% | 21.9% | ||
| Q2 24 | 11.2% | 31.5% |
| Q1 26 | — | $0.32 | ||
| Q4 25 | $0.34 | — | ||
| Q3 25 | $-0.37 | — | ||
| Q2 25 | $-0.08 | — | ||
| Q1 25 | $-0.59 | — | ||
| Q4 24 | $0.05 | — | ||
| Q3 24 | $-0.31 | — | ||
| Q2 24 | $1.07 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $81.3M | $8.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-282.1M | $3.6B |
| Total Assets | $1.5B | $7.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $8.9M | ||
| Q4 25 | $81.3M | $14.9M | ||
| Q3 25 | $48.6M | $17.3M | ||
| Q2 25 | $144.6M | $15.4M | ||
| Q1 25 | $96.5M | $9.3M | ||
| Q4 24 | $107.8M | $36.3M | ||
| Q3 24 | $52.3M | $70.0M | ||
| Q2 24 | $89.1M | $33.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $3.1B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | — | $2.8B |
| Q1 26 | — | $3.6B | ||
| Q4 25 | $-282.1M | $3.6B | ||
| Q3 25 | $-294.2M | $3.4B | ||
| Q2 25 | $-281.4M | $3.4B | ||
| Q1 25 | $-283.4M | $3.5B | ||
| Q4 24 | $-273.1M | $3.5B | ||
| Q3 24 | $-277.5M | $3.3B | ||
| Q2 24 | $-266.3M | $3.3B |
| Q1 26 | — | $7.2B | ||
| Q4 25 | $1.5B | $7.2B | ||
| Q3 25 | $1.5B | $6.9B | ||
| Q2 25 | $1.5B | $6.8B | ||
| Q1 25 | $1.5B | $6.8B | ||
| Q4 24 | $1.4B | $6.8B | ||
| Q3 24 | $1.4B | $6.6B | ||
| Q2 24 | $1.3B | $6.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.91× | ||
| Q3 25 | — | 0.91× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | — | 0.87× | ||
| Q4 24 | — | 0.88× | ||
| Q3 24 | — | 0.89× | ||
| Q2 24 | — | 0.84× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $32.4M | — |
| Free Cash FlowOCF − Capex | $31.6M | — |
| FCF MarginFCF / Revenue | 7.8% | — |
| Capex IntensityCapex / Revenue | 0.2% | 3.9% |
| Cash ConversionOCF / Net Profit | 3.94× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-480.0K | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $32.4M | $104.5M | ||
| Q3 25 | $-85.0M | $143.5M | ||
| Q2 25 | $49.7M | $111.9M | ||
| Q1 25 | $6.3M | $103.5M | ||
| Q4 24 | $61.8M | $104.9M | ||
| Q3 24 | $-26.2M | $128.0M | ||
| Q2 24 | $108.4M | $122.2M |
| Q1 26 | — | — | ||
| Q4 25 | $31.6M | $43.8M | ||
| Q3 25 | $-85.3M | $95.5M | ||
| Q2 25 | $49.4M | $62.3M | ||
| Q1 25 | $3.9M | $57.2M | ||
| Q4 24 | $61.2M | $37.6M | ||
| Q3 24 | $-26.5M | $86.7M | ||
| Q2 24 | $108.0M | $105.0M |
| Q1 26 | — | — | ||
| Q4 25 | 7.8% | 19.8% | ||
| Q3 25 | -216.3% | 45.2% | ||
| Q2 25 | 24.2% | 30.0% | ||
| Q1 25 | 0.9% | 27.8% | ||
| Q4 24 | 17.1% | 18.8% | ||
| Q3 24 | -49.7% | 45.5% | ||
| Q2 24 | 47.5% | 55.3% |
| Q1 26 | — | 3.9% | ||
| Q4 25 | 0.2% | 27.4% | ||
| Q3 25 | 0.9% | 22.7% | ||
| Q2 25 | 0.2% | 23.9% | ||
| Q1 25 | 0.6% | 22.5% | ||
| Q4 24 | 0.1% | 33.8% | ||
| Q3 24 | 0.7% | 21.6% | ||
| Q2 24 | 0.2% | 9.1% |
| Q1 26 | — | — | ||
| Q4 25 | 3.94× | 1.25× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 2.24× | ||
| Q1 25 | — | 1.13× | ||
| Q4 24 | 55.61× | 2.06× | ||
| Q3 24 | — | 3.06× | ||
| Q2 24 | 4.25× | 2.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
STAG
Segment breakdown not available.
